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View Diary: Right-wing myths about merit, money and morality (206 comments)

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  •  Wealth becomes a source of political power (11+ / 0-)

    That power also attracts wealth. It has no necessary connection to productive efforts.

    The cross-over point it where an upper middle class individual and his family receive their income from investments rather than from their own direct efforts.

    Inheritance with no upper limits creates a class of individuals whose only function is to wield power. Their relationship to the productive economy is primarily that of parasites. Their goal ceases to be to build a productive economy and becomes preservation and expansion to the wealth that gives them their social position and power.

    Workers get their income primarily from wages. When the worker stops working then their income stops. Any income for workers when they stop working becomes a social or political decision. A personal contract can be the workers' control at that point. For most workers the contract has to be one in which they jointly band together to negotiate and enforce that contract. Sounds remarkably like a union to me.

    For parasites on the productive economy whose power is maintained by their wealth they can add to their wealthy by destroying unions and stealing the surplus income created by the efforts of workers. Most inheritors of great wealth take this route to protecting and augmenting the wealth that protects their social position.

    George W. Bush is a great example of wealth (and its associated power) on the next generation. He failed in every job he ever held, but was repeatedly promoted to higher positions because of his family's power and wealth.

    The Koch brothers are an example of great wealth that is inherited. Their only function is to work strategically to protect and increase their wealth and their social power and reputation.

    The US Supreme Court has by its actions and rhetoric has ceased to be legitimate. Whiskey Tango Foxtrot - over

    by Rick B on Sun Jul 07, 2013 at 12:00:05 PM PDT

    [ Parent ]

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